Q Values
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Microeconomics sixth edition, Pindyck-Perferred format for answer is either Word or Excel.
Chapter 10
Page 379 Problem 8
A firm has two factories, for which costs are given by:
Factory #1 C1(Q1) = 10Q 2
1
Factory #2 C2(Q2) = 20Q 2
2
The firm faces the following demand curve:
P=700-5Q
where Q is total output i.e. Q=Q1 + Q2
B) Calculate the values of Q1, Q2, Q, and P that maximize profit.
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Calculate Q Values
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The firm's revenue is TR = P*Q = (700 - 5Q)Q = 700 - 5Q^2
Then the marginal cost is MR = dTR / dQ = 700 - 10Q
The firm will max its profit by producing at a level where the ...
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